April 27, 2022 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of a six (6) unit multi-family property in East Chicago, Indiana. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $270,000.
The multi-family investment property is located at 4302 Magoun Avenue in East Chicago, Indiana. The property is positioned in the Northside neighborhood, near the Indianapolis Boulevard and Columbus Drive corridors, two of the city’s primary commercial thoroughfares. The property consists of six (6) units made up of five (5), 1-Bedroom/1-Bathroom units and one (1) 1-Bedroom/1-Bathroom unit with 5,495 square feet of living area in 6,594 square feet on 0.17-acres of land. The property is a well located, value-add, multi-family property in a supply-constrained rental market. The property consists of a three-story brick-masonry building with a four-car garage and additional on-site parking. Tenants are responsible for their own separately metered electricity while the Landlord is responsible for heat, hot water, and the municipal water and sewer bill. The property is located in East Chicago, Indiana, which is a Southeast Suburb of Chicago located directly off of two major roadways (I-90 and US Route 20) and is just seconds from the Indiana Harbor and Lake Michigan. The property is less than 3.5-miles from the South Shore Line for quick, direct access to Chicago, South Bend, and the surrounding areas. Additionally, tenants are within walking distance of local area amenities with numerous restaurants, bars, and shopping along Columbus Drive, Indianapolis Boulevard, and Euclid Avenue.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.